The Liz Moore Market Watch Blog

How Does College Debt Affect Homeownership?

Posted by Lynnette Tully on Wed, Sep 20, 2017 @ 02:03 PM

Eighty-three percent of millennials in a recently released report by the National Association of REALTORS® (NAR) say they are delaying their home-buying plans by a median of seven years as a result of their student loan debt. 

Homeownership is not the only thing being affected by student loan debt.  Millennials are also postponing career changes, children, marriage and retirement savings. Forty-one percent of millennials have put off marriage; 61 percent have skipped a retirement savings payment; and 86 percent have stayed in an unsatisfying job, or taken on a second job or one outside of their field, as a result of student debt.

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Are you looking to start the home buying process but aren't sure if you qualify because of college debt? Email us at [email protected], we'd love to help!
 
 

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Tags: Buyers